Assets of Capital Bank Grew by One Billion Manat

The assets of OJSC Capital Bank increased in 2016 by 1 billion manat and reached AZN 3 billion 96.7 million at the beginning of this year, the unaudited financial report of the bank noted.

During the year, the volume of loans to customers grew by 14.8% and amounted to 1 billion 167 million manat by January 1, 2017. About half of the assets of Capital Bank (AZN 1 billion 467.1 million) are located in the Central Bank and other banks. However, these assets grew about 6 times, which indicates that the bank is experiencing a problem with the placement of funds due to the economic crisis.

Last year, JSC Capital Bank customers' deposits increased by 791 million manat to 1 billion 916 million manat by January 1.

In 2016, the bank's income amounted to 336.4 million manat. The bank has formed a provision for potential losses in the amount of AZN 66 million. After deduction of income tax (15.9 million manat), net profit amounted to AZN 52 million 384 thousand, 9.5 million manat less than in 2015.

The authorized capital of OJSC Capital Bank is 185 million manat. It is part of the group of companies Pasha Holding, which owns 99.87% of its shares.   -----08B